2019 is in the books and it was a record setting year. The median sale price for a house in the greater Flagstaff region hit a record high of $420K, up 9% from 2018. The average price paid per-square-foot was $226, also a new record. There were a total of 1210 sales which ties the record from 2005. I expect another couple of sales to eventually be added to that figure thus making 2019 the busiest year for real estate sales ever. Here’s the breakdown:
4th ¼ 19
Helping power this market are interest rates. A 30-year fixed rate mortgage is now around 3.5%. A year ago it was at 4.25%. Happy New Year and until next month. Here for any & all of your real estate needs.
August Housing prices in the greater Flagstaff area rose 6% from a year ago with the median sale price coming in at $404K, setting a new monthly price high for August. It is however, down from July when the median sale price was $446K. The average price paid per-square-foot was $233 which is also a new high and up from July’s psf of $225. Housing sales rose 17% from the same period last year. There were 134 houses sold in August, the most in 14 years. A big contributor to the strength in our real estate market are mortgage rates which recently hit a 3-year low. Currently a 30-year fixed rate mortgage can be had at 3.5% with no points. Presently there are 146 houses available for purchase in the Flagstaff City limits with the median asking price at $446K. Until next month here for any & all of your real estate needs.
July housing prices in the greater Flagstaff region hit another new high, with the median sale price coming in at $445K. This is up 16% from July ’18. The total housing sales number for the month was 145, up 28% from a year ago. This is the most sales we’ve had in July, in 14 years. In July of 2005 there were 152 sales but back then the median sale price was only $329K. If you do the math, you’ll see that a lot more money was spent this July. The average price paid per-square-foot this July was $224 which is not quite the high, that being $227psf in ’06. Helping boost sales and prices are lower mortgage rates. A 30-year fixed rate mortgage is now at 3.375% with no points. This is down 3/8th of a point from last month. Inventory levels have risen. There are currently 198 houses available for sale within the Flagstaff City limits with the median asking price of $510K. Until next month, here for any & all of your real estate needs.